Both countries will eliminate all tariffs. Most of Singapore’s top exports to New Zealand will be able to qualify for the preferential market access treatment. Exporters are permitted to transit, unload and reload their goods in Australia and still qualify for preferential treatment.

Under the Mutual Recognition Agreement, electrical and electronic equipment tested in Singapore will no longer require a second testing when exported to New Zealand.

Both countries have committed to liberalise many services sectors, including professional services, financial services and environmental services.

There is also a commitment to a framework of investment rules to promote and protect bilateral investment.

Singapore suppliers will enjoy equal and non-discriminatory access to all government tenders above estimated value of S$110,000.